Posts Tagged ‘estate planning’
Ten Biggest Mistakes You Can Make In Your Estate Plan
February 8th, 2019 by David Goldfarb
Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of mistakes that people, and their planners, can make. But in my years of being involved in all aspects of estates – from the drafting of wills, to administering estates after someone dies, to fighting in […]
Estate Planning Issues for Divorcing Spouses
July 6th, 2018 by David Goldfarb
There are many considerations when you and your spouse divorce. Divorce will divide your marital property and debts, determine custody schedules for your children, and much more. You should also always revisit your estate plan upon a divorce. While contacting an estate planning lawyer may be the last thing on your mind in this already […]
June is Elder Abuse Awareness Month
June 18th, 2018 by David Goldfarb
As many as five million cases of elder abuse are reported to the authorities each year. Unfortunately, most cases of elder abuse probably go unreported. Because June is Elder Abuse Awareness Month, we here at Goldfarb Abrandt Salzman and Kutzin, LLP, would like to take this opportunity to call attention to this important topic. The […]
Long-Term Care Costs Are Surging, and New Yorkers Must Prepare for Them
March 23rd, 2018 by David Goldfarb
Financial planning for retirement is a complicated task. It requires anticipating living expenses for an indefinite amount of time. This daunting task is often met by a combination of resources. For adequate financial preparation, a retiree must often have health insurance coverage through Medicare, private insurer and possibly Medicaid. Retirement accounts such as 401(k) plans […]
New York’s Real Estate Tax Exemptions for Senior Citizens and Veterans
December 29th, 2017 by David Goldfarb
New York property laws allow for many specialized property tax exemptions for certain groups of people, including senior citizens and veterans. These exemptions, however, will not automatically go into effect. Instead, you must not only qualify for them but submit an application to the proper party by a certain deadline to benefit from the exemption […]
Criteria for Federal and New York State Income Tax Deduction for Long Term Care Insurance
December 22nd, 2017 by David Goldfarb
Many people know that they should purchase long-term care insurance, but the high cost of policies prohibit them from taking the next step. Despite the expense, this insurance coverage not only protects you, your loved ones, and your estate, but it also may provide certain tax benefits as well. The method and extent of the […]
Will Contests – The Basics
April 19th, 2015 by David Goldfarb
Will contests typically focus on the following three issues: due execution, testamentary capacity, and undue influence. Due execution. The requirements for due execution in New York are minimal, but important. In New York, with certain exceptions, the testator (the legal term for the person signing his or her will) must sign the will either in […]
LIVING TRUST – IS IT RIGHT FOR YOU?
May 27th, 2014 by David Goldfarb
What is a “Living Trust”? Living trusts[1] (also known as “revocable trusts” and “revocable living trusts”) are often useful devices that can be used, in tandem with something called a “pourover will” (discussed below) to avoid probate or reduce the probate process’s affect on your loved ones after you die. A living trust acts […]
New York’s Estate Tax Dramatic Changes
April 30th, 2014 by David Goldfarb
April 2, 2014 — New York’s Estate Tax law has just undergone its most dramatic changes since the late 1990s, with long overdue increases in tax exemption that will eventually equal the Federal Estate Tax exemption, but also with a “cliff” that results in the loss of any exemption from New York Estate Taxation altogether […]
Estate Planning Resources on the Web
February 10th, 2014 by David Goldfarb
Goldfarb Abrandt & Salzman LLP’s Trusts & Estates Articles. ABA’s Wills: Why You Should Have One and the Lawyer’s Role in Its Preparation Should I Have a Will? from Goldfarb & Abrandt LaGuru Internet Law Library: Trusts and Estates Cornell’s State Probate Statutes on the Internet Estate Planning Links National Network of Estate Planning Attorneys […]
